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Consolidated FS

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Consolidated FS

Viewing 2 posts - 1 through 2 (of 2 total)
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  • May 24, 2022 at 6:08 pm #656370
    Kyleel
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    AB has owned 80% of CD for 6 months. The revenue of AB for the year is $650,000 and for CD it is $320,000. AB has sold goods to CD throughout the year and the total amount is $24,000. What is the revenue figure to be included in the consolidated statement of profit or loss for the year?

    My answer 754,000

    May 30, 2022 at 4:40 pm #656876
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6473
    • ☆☆☆☆☆

    Hi,

    I don’t think that is the correct answer. It is a mid-year acquisition so you need 650,000 + 160,000 – 12,000. You need to pro-rate S’s figures due to the 6-months.

    Thanks

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